Ford Otosan Granted 31.4 Billion TRY in Project Support

Ford Otomotiv Sanayi A.Ş.'s (Ford Otosan) incentive application to support the growth targets of its Ford Trucks brand in the European market has been approved. The company has qualified to receive a total of 31.4 billion Turkish Liras in project-based state support for the related project. The support covers the company's investments to increase its commercial vehicle production and export capacity. The project is expected to strengthen Ford Trucks' market share and competitiveness in Europe. Such project-based supports are typically granted in return for commitments to increase production, employment, and exports. The incentive to be received by Ford Otosan also appears aligned with Turkey's strategic goals in the automotive and export sectors. Investors are assessing the impact of this large-scale state support on the company's long-term capital expenditures and cash flows. The support will constitute a significant resource in covering certain investment costs. Details of the project and the timing of support payments will become clearer with the company's forthcoming announcements. Market participants continue to monitor the company's official statements. This is not investment advice.